- It found support on the EMA20, signalling the end of the downtrend
- is in positive territory
- Daily is rising steadily and just above 50, still far from overbought territory
- Weekly looks close to turning positive
- There's a gap waiting to be filled at $23.64
I'm still quite new to trading and keen to learn, so any constructive critique is more than welcome.
Thanks and good luck!
I would wait to get involved in a swing for this. Currently though as an investment it looks great. I would like to add on the MACD. Seems to me like a consolidation phase. From how the blue and orange lines are so tight together and little curvature. Almost like its flatlining. If the moving averages of the MACD start to show signs of it crossing over the 0 level. I think that would boost momentum and i would get in provided other factors show momentum or trend to upside rather than to downside. I would also add the STOCH RSI to further support MACD to show where the momentum or trend is going. I would also look at the 50SMA. If price action is below it, it give a bearish case and if above 50SMA, it would push me closer to seeing if i can swing. Overall though just from what i see from this chart. It has potential. Hope this helps.